Caruso quickly released a statement affirming his support for abortion rights, and a spokesperson said Caruso had always been pro-choice and has always supported Roe vs. Wade.. Operations: Meghann Olshefski Mandy Morris Kelly Rindfleisch In addition to boards within the entertainment industry that Robert Bakish serves on, hes a member of the Board of Overseers at Columbia Business School. So I'd start by saying Pluto is the leader in fast in the U.S. And as you know, it's rapidly growing internationally as well. Ballotpedia uses one or more of the following sources to identify each officeholder's partisan affiliation: (1) direct communication from the officeholder, (2) current or previous candidacy for partisan office, or (3) identification of partisan . Bakish joined Viacom in 1997, and held a series of senior corporate, sales and development positions at the company. and really a long track recordship of partnership and customer services with agencies and their clients. My name is Elliott, and I'll be the conference operator today. Hes an active member of the colleges media and technology forum, lending his expertise. Sign up here to get California Politics in your inbox.Until next time, send your comments, suggestions and news tips to politics@latimes.com. In fact, Top Gun: Maverick just cleared $1.34 billion at the global box office and became 1 of the top 10 domestic movies of all time. So IPL i.e., India cricket, I assume, that's a deal that was done by our joint venture in India, Viacom18, which recently had a transaction where they brought in Bodhi Tree as an investor and Capital Infusion. Frequent changes in voter registration could suggest that the candidate really doesnt have a core or that they are an opportunist, Sragow said. Compensation Committee Chair, Audit Committee Member. [78], Bakish was previously Chairman of the board of Viacom 18 Media from 2007 until February 28, 2018. He went to school in Englewood at the Dwight-Englewood School and graduated from there in 1981. An independent review of the alleged incident has concluded, and the investigation did not support the allegation, ViacomCBS said in a statement. We leverage those assets across many platforms, and it's one of the reasons that we can grow faster, while spending less than others. So a couple of points there. What the voters of the city care about is crime and homelessness and corruption.. In Filmed Entertainment, Q2 revenue was $1.4 billion, more than double the year ago period. We also expect to see continued meaningful contributions from the licensing side of that business, which is enabled by a combination of both an incredible catalog and unique production capabilities. Apply today! Here are the five most liberal CEOs, according to the firm's rankings: 5. So let me show you how, starting with film. Personal Freedom. He categorized the matter as a data point for voters hardly fatal, but something that could resonate negatively if they believe its part of a larger picture. I mean in terms of our expectations for Pluto in the back part of the year, I'd take a couple of things. Sacramentos biggest battle in recent weeks has been over a single-payer healthcare bill. Rick Caruso tours Grand Central Market as he continues his mayoral campaign. Sign up for the California Politics newsletter to get exclusive analysis from our reporters. Viacom is the parent company for several other large companies and there were failures and inconsistencies that were draining many of them. In fact, we saw an acceleration of that from Q1 to Q2. Robert Marc Bakish's Connecticut Voter Registration. Nominating and Governance Committee Chair. It's really a marketplace dynamic that unfortunately, we're not immune to. Thank you taking the time to join us for our second quarter 2022 earnings call. From 2000 to 2008 he was the Managing Partner of Provender Capital Group, LLC a private equity firm focusing on investments in emerging companies. Candidates. [Operator Instructions]. Will it turn to a billionaire mayor? With Pluto, we provide a global platform and global libraries, and our partners provide compelling local content and local ad sales capabilities. What did Disney actually lose from its Florida battle with DeSantis? And it's highly coveted by advertisers. Tom Campbell, chair of the Common Sense Party. Robert Marc Bakish is a businessperson who has been at the helm of 8 different companies. We are independent and not affiliated with any investors, shareholders, political parties or interestgroups. Speaking to the Sherman Oaks Homeowners Assn. All those have hard bundled elements, but again, have a broader distribution to penetrate broad distribution elements to parachute to TAM. From 2004 to 2006, Ms. McHale served as the President and Chief Executive Officer of Discovery Communications, Inc., the parent company of Discovery Channel, and served as its President and Chief Operating Officer from 1995 to 2004. We see our partners responding enthusiastically. But he did share insight into his worldview with the relatively small audience, saying he became an independent because he didnt like ideology. Yes, sure, Ben. In the early stages of the pandemic, we were very selective with our releases, holding certain films until market conditions improve. Reconciliations of these non-GAAP financial measures can be found in our earnings release or in our trending schedules, which contains supplemental information and in each case, can be found in the Investor Relations section of our website. CBS News also terminated Charlie Rose in 2017 as co-anchor of CBS This Morning and as a host of 60 Minutes on misconduct allegations by a number of women, from his time at CBS and earlier. I'll start this morning by talking about Q2 highlights and preview what's next. MAUs are now at basically $70 million because we're getting great consumer traction and engagement, time spent, et cetera on Pluto continues to grow. As of September 2022, the state of California officially recognized six political parties. over Zoom, Caruso did not correct the interviewers mistaken impression that he had remained a no-party-preference voter from 2011 until registering as a Democrat in 2022. Nowhere is our popularity more evident than at the box office. With the help of partners, Sky and CJ Entertainment, we just launched Paramount+ in the U.K., Ireland and South Korea. What the dollar commitment -- your commitment is and what your goals are there? Big picture, while we're clearly navigating some near-term headwinds in the macroeconomic environment, Q2 shows we have the assets, strategy and ability to compete and win over the long term. [44][36][45], In early 2017, Bakish laid out a five-point plan to turn Viacom around and return the company to steady profitability. The combination of streaming and traditional is significant. [36][2] He also oversaw the launch of apps, including the Viacom Play Plex suite of branded mobile TV apps and the BET Play direct-to-consumer subscription video-on-demand app for an adult audience. Currently, he is President, Chief Executive Officer & Director at ViacomCBS, Inc. Mr. Bakish is also on the board of 5 other companies. And its those voters whom the leaders of the California Common Sense Party want to reach. The only minor party candidate elected to the Legislature since the Progressive era of the early 20th century was Audie Bock, a Green Party member who won a special Assembly election in 1999. She has served as Chairman of the Board of Directors of The Doe Fund since 2017. But obviously, given the macro advertising headwinds and the fact that there's a little bit less visibility in the back half of the year, it's possible we may not get all the way to that 60%. So we're very excited about this transformation journey that we're on. Early life and education [ edit] If you are Robert Bakish, please use our candidate login process to verify your identity and manage this profile here. 20 Cities with the Worst Weather in the U.S. How Eiza Gonzalez Achieved a Net Worth of $5 Million, How Bebe Rexha Achieved a Net Worth of $10 Million, The 20 Worst Cities for Human Trafficking in the World. Policy: Christopher Nelson Caitlin Styrsky Molly Byrne Katharine Frey Jimmy McAllister Samuel Postell Please check back soon. But we are still focused on managing the business to peak losses in '23, and then starting to see improvements in earnings, both for the D2C segment and the consolidated business as a whole beyond that as we move toward our long-term D2C revenue and subscriber goals. So very good supply side equation. Or does it extend past that? Caruso served as Kasichs California co-chair and was outspoken about his dislike for then-candidate Donald Trump. [28][29], When MTVNI CEO Bill Roedy resigned in January 2011, Bakish was promoted to the newly created position of President and CEO of Viacom International Media Networks (VIMN). And therefore, we're really excited about it because we get the very material benefit of cricket, and cricket is at the top of the food chain in India. [54][55] In 2018, under Bakish's direction and in accordance with his plan to capture younger and digital markets, Viacom acquired digital platform WhoSay,[56][57] internet video conference VidCon,[58][56][57] and online television network AwesomenessTV. We wanted to learn more about him so we looked into his profile and list of accomplishments and we made some interesting discoveries. We finished the quarter with $4 billion of cash on hand and total debt of $15.8 billion. It's not an overwhelming part, but it is part of it. Currently, he is President, Chief Executive Officer & Director at ViacomCBS, Inc. Mr. Bakish is also on the board of 5 other companies. Joining me for today's discussion are Bob Bakish, our President and CEO; and Naveen Chopra, our CFO. By subscribing, I agree to the Terms of Use and Privacy Policy. He has been President and CEO of Paramount Global since December 4, 2019, formerly holding the same position at Viacom before the merger with CBS Corporation. On the positive side, TV clearly remains resilient on a relative basis, and that's a function of a very tight supply. Kevin de Len just postponed Wakanda Forever screening after uproar, 12 reasons why Sycamore Avenue is L.A.s coolest new hangout, Student debt is a crisis: Activists rally outside Supreme Court for loan forgiveness, Couple sues Pasadena fertility clinic after baby is born with stomach-cancer gene, Legislators propose changes to Californias conservatorship law, Los Angeles Mayor Karen Bass endorses Rep. Barbara Lee in Senate race, Sirhan Sirhan, convicted of killing Robert F. Kennedy, denied parole by California board, From Tahoe to Yosemite to Arrowhead, heavy snow buries California mountain communities. And we are -- despite some of the short-term headwinds, we continue to be very bullish about the potential for continued ad ARPU growth on our streaming services. We need to give this a bit of time to play out. From June 2010 to December 2017 he was Vice Chairman of Investment Banking and Capital Markets at Credit Suisse. So that's really the ad market. And we're just getting started. The combination of continued investment and ad market softness means that D2C losses should remain roughly the same in the second half of 2022 as the first half of the year. Ms. Schuman has worked alongside Fortune 100 CEOs and their teams to help build their strategies, cultures and human behaviors throughout their organizations. Bakish has an M.B.A. from Columbia Business School and a B.S. Robert Marc Bakish received an MBA from Columbia Business School and an undergraduate degree from Fu Foundation School of Engineering & Applied Science. Meanwhile, in markets like India and Eastern Europe, we're focused on balancing long-term market growth with a smart allocation of capital. Importantly, the vast majority of the year-over-year decline occurred in international markets where we proactively restructured key affiliate deals, resulting in a shift of revenue from our Pay TV to D2C services. Ms. McHale has extensive experience leading a major media conglomerate with a background in operations and financial management, expertise in global affairs, experience in government affairs and extensive public company and corporate governance experience. Yes. Mr. Phillips is Chairman of Infor, Inc., a multi-billion dollar enterprise software company, and served as its Chief Executive Officer from 2010 to 2019. Our quarter end totals reflect the removal of 3.9 million D2C subs in Russia, of which 1.2 million were from Paramount+, consistent with our plan to remove these subscribers from our reporting. Do Not Sell or Share My Personal Information, changed his party affiliation to Democratic, Man arrested in connection to 7 bombings in Fresno has links to hate group, authorities say, Vote on LAPD transit patrols sparks City Hall debate over safety on Metro system, UCLA, UCSF hospital nurses voice complaints about overcrowding, staffing shortages, Before and after photos from space show storms effect on California reservoirs, Dramatic before and after photos from space show epic snow blanketing SoCal mountains, Yet more rain expected to hit California in March. Number one, rate increases in both the affiliate and advertising side of the business, and there's been evidence of that over the last few quarters. The yellow school bus has become an increasingly rare sight in California. Nominating and Governance Committee Member. But in a competitive market, scale isn't enough. Starting with direct-to-consumer. And Q2 shows how we leverage investments across multiple platforms, that unlock multiple revenue streams. [6][7] He earned an MBA from Columbia Business School in 1989. You may now disconnect your lines. His track record speaks for itself: from serving as Trumps economic advisor, to backing antiabortion and pro-NRA politicians like Mitch McConnell, fellow mayoral candidate and L.A. City Councilmember Kevin de Len said. Robert Marc Bakish (born 1963) is listed at 17 Old Neversink Road Danbury, Ct 06811 and is affiliated with the Republican Party. The L.A. mayoral candidate has changed his party registration four times in the last 11 years. iSideWith.com is the worlds most popular voting guide for citizens to find information about elections, political parties, candidates, voting districts and popular political issues in their country. We're continuing to fund the growth. The leading global brands in entertainment, We tell rich stories that are highly relevant to our audiences. Ms. Byrne is Former Vice Chairman of Barclays PLC. One, we're very pleased -- well, let's start with we definitely are viewing streaming as a global opportunity, and you're seeing us move against the international opportunity, particularly Western Europe, here in 2022. Ballotpedia features 395,441 encyclopedic articles written and curated by our professional staff of editors, writers, and researchers. They took a similar tack when abortion became a campaign issue early last month after a draft opinion appeared to show that the Supreme Court is poised to overturn Roe vs. Wade. And people of goodwill and good character can come to different conclusions on the same question.. He led the revitalization and evolution of Viacoms core businesses, returning the company to growth, and extending its leadership across multiplatform entertainment content, next-generation distribution and advertising. Technology in January 1998. This, combined with our fiscally disciplined approach, including with respect to cost management, provides a real advantage in these challenging times and beyond. 2023 Deadline Hollywood, LLC. Menu Candidates > Robert Bakish > Policies > Healthcare > Stay-At . But there are real reasons that we see this path to superior margins. It is part of our broader D2C business, as you well know. At this time, I would now like to turn the call over to Anthony DiClemente, Paramount Global's EVP, Investor Relations. Prior to that, he was Executive Vice President, Chief Financial Officer and a Director at Paramount Communications, Inc., formerly Gulf + Western Industries, Inc. Mr. Nelson has served on the board of Hanesbrands Inc. since 2008 and its Non-Executive Chairman since 2019, and on the board of Wyndham Hotels & Resorts, Inc. since 2019. Second, there are 2 important new category tailwinds that we'll see probably late Q3 and certainly Q4. Danbury, Connecticut. But on the other hand, it sounds like OIBDA losses for DTC this year are shaping up to be closer to $1.8 billion versus expectations for $1.5 million before. And as you said, it's really too early to know exactly what the market will look like in 2023. Advertisers are focused on being associated with premium content, and we have a really diverse collection here across entertainment, sports and news. And so for instance, there are certain parts of the product where advertising is not yet enabled and that will continue to evolve over time. Use of this site constitutes acceptance of our user agreement and privacy policy. Part of the reason is that we don't just make popular content, we also make content popular by leveraging our powerful platforms. He also sits on the Avid Technology Board of Directors. So the combination of all those things will be key to delivering stable TV Media OIBDA. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. He is a member of the Board of Directors of the Federal Reserve Bank of New York, the Apollo Theater, Business Executives for National Security and the New York Police Foundation. He graduated with his bachelors of science degree in 1985 with a concentration in operations research. If you are Robert Bakish, please use our candidate login process to verify your identity and manage this profile here. We added 5.2 million global D2C subscribers in Q2. The conventional wisdom, based on news headlines and social media, is that Gov. Those launches are performing above our expectations. We now turn to Ben Swinburne from Morgan Stanley. Share. Turning to the balance sheet. So I was curious if you had an updated view on what the appropriate level of content spend is evolving into for Paramount, whether that's for the total company or just for DTC? Enjoying this newsletter? Continued improvements in engagement and our compelling advertiser proposition mean that Pluto is well positioned to both gain share and benefit from organic growth. Hes an executive in the broadcasting industry with an interesting career, so here are ten things that you probably didnt know about Robert Marc Bakish. And how is the composition of ad-supported versus premium Paramount+ subs and gross add trends sort of changed since the release in June? Alleged incident has concluded, and the investigation did not support the allegation, ViacomCBS said in a competitive,! Mayoral candidate has changed his Party registration four times in the future, please use our login... Europe, we tell rich stories that are highly relevant to our.! Continued improvements in engagement and our compelling advertiser proposition mean that Pluto is well positioned robert bakish political party gain! 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